Alabama Democrat Senator candidate Doug Jones pulled out an upset win during the special election on Tuesday over Republican candidate Roy Moore to fill the Senate seat vacated by Alabama Republican Senator Jeff Sessions, following his resignation on February 8th to serve as U.S. Attorney General under the Trump administration.

The Alabama Senate results showed that Democrat Doug Jones pulled off a close win with less than a 2 percent margin over Roy Moore, an anti-establishment Republican whose popularity and electability took a major setback after 9 women stepped forward in November and accused him of sexual misconduct when they were teenagers and he was in his 30’s and serving as district attorney.

If Roy Moore’s checkered sexual past wasn’t polarizing enough for Alabama voters to digest, his far right views about gays, Islam, and slavery also made him a difficult candidate to endorse, even though U.S. President Donald Trump did finally endorse him during the campaign season while warning Alabama voters that Democrat candidate Doug Jones would become a Pelosi/Schumer puppet.

Congratulations to Doug Jones on a hard fought victory. The write-in votes played a very big factor, but a win is a win. The people of Alabama are great, and the Republicans will have another shot at this seat in a very short period of time. It never ends!

However, by percentage more white college educated women actually voted for Moore ( 52 percent for Moore compared with Jones’ 45 percent).

Alabama has historically been a red Republican state where politicians are often judged based on their conformity to Republican social conservatism.

Jones is the first Democrat to win a Senate seat in Alabama since 1992.

Jones is a pro-choice Democrat whose political ideology doesn’t often align with Republican social conservatism.

His victory on Tuesday night in Alabama is a testament to the ability of Alabama citizens to vote for a candidate not purely along ideological lines but also giving emphasis to a candidates’ character and past personal history.

Moore carried around personal baggage with the 9 female accusers who had accused him of sexual misconduct during a time when other U.S. politicians who have been accused of sexual misconduct have resigned, including Democrat Minnesota Senator Al Franken.

“I have always believed that the people of Alabama have more in common than to divide us. We have shown not just around the state of Alabama but we have shown the country the way that we can be unified” Jones said.

Democrats picked up one additional Senate seat with Jones’ win on Tuesday which could impact the balance of political power in the U.S. Senate concerning policy issues.

When Jones will be sworn in in January 2018, Republicans will control 51 seats to Democrats 47 seats.

There are 2 Independent seats in the Senate.

Written and Edited By:

John Schweitzer

@SchweitzFinance

@Schweitz31

schweitz31@gmail.com

]]>Alabama Senate Election Gets Underway As Rest Of Country Watches Onhttp://www.schweitzfinance.com/2017/12/12/alabama-senate-election-gets-underway-as-rest-of-country-watches-closely/
Tue, 12 Dec 2017 09:55:28 +0000http://www.schweitzfinance.com/?p=30638The Alabama Senatorial election will get underway in the next several hours across Alabama, a deeply conservative state that has a Republican candidate running for Senate with a controversial background, including past accusations of sexual [...]]]>

The Alabama Senatorial election will get underway in the next several hours across Alabama, a deeply conservative state that has a Republican candidate running for Senate with a controversial background, including past accusations of sexual misconduct with young teenage girls when he was in his 30’s, and some other divisive comments he made about gays, Muslims, and slavery.

During a September 17th rally, Republican candidate Roy Moore was asked to comment about when America was great and replied,

“I think it was great at the time when families were united, even though we had slavery, they cared for one another, people were strong in the families. Our families were strong, our country had a direction.”

Moore also called for homosexual conduct to be illegal during a 2005 interview on CNN and more recently on a You Tube in 2015.

He is known for making a string of anti-Islam comments, strongly opposes LGBT rights, and was removed from the Alabama Supreme Court twice for failure to follow lawful judicial orders.

Moore has the backing of President Trump and alt-right Breitbart News executive chair Steve Bannon, an anti-establishment Republican who hasn’t been shy about criticizing establishment Republicans on Capitol Hill along with liberals.

A deeply religious Christian conservative with pro-life views, Roy Moore appeals to the more religious base in Alabama and other disgruntled Alabama residents who are suspicious of Washington D.C. politics.

On Monday Democratic Senatorial candidate Doug Jones, who is polling close to Moore leading up to the election on Tuesday, received support from former NBA star Charles Barkley who spoke at one of his rallies in Birmingham and appeals to the black voter.

Condoleezza Rice, a former Secretary of State under President George W. Bush, encouraged Alabama voters to reject bigotry, sexism, and intolerance but fell short of directly naming Moore.

On Monday White House Press Secretary Sarah Sanders was asked on Monday about who President Trump supports in the Alabama Senate race which comes after he initially backed another Republican candidate Luther Strange over Roy Moore during the Republican runoff.

Sanders admitted that President Trump found Moore’s sexual misconduct allegations troubling and said if they were true, then he should step aside.

“Look, as the President said, he found the allegations troubling. And if they were true, then he should step aside. And ultimately, the people of Alabama will make a decision in that race” White House Press Secretary Sanders said.

According to a new Fox News poll from 12/7- 12/10, Republican Roy Moore is trailing Democratic challenger Doug Jones by 10 points.

However, based on a Real Clear Politics average of major polls taken from 11/27 – 12/10 Roy Moore leads Jones by + 2.2 percent.

Known for his rants against the “fake news” media, President Trump on Monday tweeted another negative tweet directed at the “fake news media” and specifically called out New York Times, CNN, and MSNBC.

President Trump also disputed a NY Times story about him watching 4-6 hours of T.V. a day and admitted he never watches CNN host Don Lemon, whom he has referred to as the “dumbest man on television.”

Another false story, this time in the Failing @nytimes, that I watch 4-8 hours of television a day – Wrong! Also, I seldom, if ever, watch CNN or MSNBC, both of which I consider Fake News. I never watch Don Lemon, who I once called the “dumbest man on television!” Bad Reporting.

]]>Congress To Continue Working On Republican Tax Cut Plan Before Recess; Sen. Sanders Calls Tax Plan “Gift To Billionaire Campaign Contributors To Republican Party”http://www.schweitzfinance.com/2017/12/10/congress-expected-to-continue-work-on-republican-tax-cut-plan-before-recess-sen-sanders-calls-tax-plan-gift-to-billionaire-campaign-contributors-to-republican-party/
Mon, 11 Dec 2017 07:56:10 +0000http://www.schweitzfinance.com/?p=30596Congress will continue working on tax reform early this week before recess occurs later in the week for the holiday break with competing Republican House and Republican Senate tax reform plans on the table and [...]]]>

Congress will continue working on tax reform early this week before recess occurs later in the week for the holiday break with competing Republican House and Republican Senate tax reform plans on the table and details still needing to be ironed out before it can be signed by President Trump.

Both the House and Senate have approved their own versions of the Tax Cuts and Jobs Act that includes deficit spending over $1 trillion over 10 years through an extensive overhaul of taxes that consists of a doubling of the standard deduction for individuals, lowering the corporate tax rate to 20 percent, and reducing the amount of real estate tax deductions of up to $ 10,o00, among other measures.

The Tax Policy Center (TPC) released a distributional estimate of the Tax Cuts and Jobs Act, based on the Senate version that was passed on December 2nd and includes a repeal of the individual mandate from the Affordable Care Act or Obamacare, requiring all Americans to have health insurance.

Based on their estimate, taxes would fall for all income groups on average in 2019, increasing the overall average after-tax income by 1.6 percent.

However, tax cuts as a percentage of after tax income would be larger for higher income groups, with the largest cuts as a share of income going to taxpayers in the 95th and 99th percentiles of the income distribution.

The pattern of tax cuts across income groups would be similar in 2025, the final year before nearly all of the individual tax cut provisions sunset, although the amount of average of average tax decreases would be slightly smaller for most income groups.

By 2027 the overall tax reduction would just be 0.3 percent of after tax income.

Low and middle income tax payers would see a slight change while taxpayers in the 1 percent would receive an average tax cut of 1.1 percent of after-tax income.

When applying an analysis that evaluates the macro economic effects and interest costs of the Tax Cuts and Jobs Act passed by the Senate Finance Committee on November 16th, the legislation is projected to increase debt as a share of GDP by over 5 percent in 2027 and by over 4 percent in 2037 while it just lifts GDP by 0.7 percent in 2018 and has a little effect on GDP in 2027.

President Trump tweeted an optimistic tweet on Sunday about the upcoming tax cut bill and claimed the end result will be “SPECIAL!”

“Getting closer and closer on the Tax Cut Bill. Shaping up even better than projected. House and Senate working very hard and smart. End result will be not only important, but SPECIAL!”

Getting closer and closer on the Tax Cut Bill. Shaping up even better than projected. House and Senate working very hard and smart. End result will be not only important, but SPECIAL!

Sen. Bernie Sanders (I- Vermont) remains a critic of the Tax Cuts and Jobs Act and said on NBC’s Meet the Press that one of the absurdities of the Republican inspired tax cut plan is the fact that Republicans moved forward with the tax overhaul legislation with no input by Democrats and also no public hearings.

Sen. Sanders also expressed disapproval with Republican Tax Cuts and Jobs Act for the imbalance of the tax cuts that are weighted more towards helping the wealthiest 1 percent of Americans and corporations.

“What this tax bill is about is nothing more than a gift to billionaire campaign contributors to the Republican Party. You have 62 percent of all of the tax benefits going to the top 1 percent, 40 percent going to the top one-tenth of 1 percent.” Sen. Sanders said.

“At the end of 10 years, 83 million American middle class taxpayers will be paying even more in taxes. Thirteen million people will lose their health insurance. And they’re going to run up a deficit of $1.4 trillion” Sen. Sanders added.

Sen. Sanders said that he hopes the American people would say that at a time of massive income and wealth inequality, where the top one-tenth of one percent owns more wealth than the bottom 90 percent, why should we give massive tax breaks to people who don’t need it and then cut back on programs that middle class people do need.

According to an Economist/ YouGov poll taken from December 3-5th a majority of Americans, 29 percent strongly oppose the Republican tax plan that is being debated in Congress.

Twenty-seven percent of polled Americans have no opinion while 19 percent somewhat support the new tax plan, 13 percent somewhat oppose, and just 12 percent strongly support the tax plan.

Concerning the mortgage interest deduction, a majority of Americans, 36 percent, prefer the Senate version which makes no changes to the current deduction and allows a married couple to deduct the interest paid on a home mortgage with a loan value up to $ 1,000,000.

Thirty-two percent of Americans prefer the House version of the mortgage interest deduction which lowers the interest deduction amount to $500,000 or less.

Another thirty-two percent of polled American were not sure.

Written and Edited By:

John Schweitzer

@SchweitzFinance

@Schweitz31

schweitz31@gmail.com

]]>

Sen. Susan Collins Says She’s Disappointed The Republican National Committee Resumed Support For Moorehttp://www.schweitzfinance.com/2017/12/10/sen-susan-collins-says-shes-disappointed-the-republican-national-committe-resumed-support-for-moore/
Sun, 10 Dec 2017 19:38:20 +0000http://www.schweitzfinance.com/?p=30569Republican Senator Susan Collins (R-Maine) said on CBS’s Face the Nation that she is disappointed the Republican National Committee has resumed its support for Roy Moore, a Republican Alabama Senatorial candidate who faces new accusations [...]]]>

Republican Senator Susan Collins (R-Maine) said on CBS’s Face the Nation that she is disappointed the Republican National Committee has resumed its support for Roy Moore, a Republican Alabama Senatorial candidate who faces new accusations from several women that claim he committed sexual misconduct against them when they were in their early teens and he was in his 30’s and worked as a district attorney.

“I’m disappointed the RNC has resumed its support for Roy Moore. I think that’s a mistake. I would point out that I did not support Mr. Moore even prior to these allegations of sexual misconduct because I was concerned about his anti-Muslim comments, his anti-LGBT comments, and also, most important of all, he’d been removed twice from the Alabama Supreme Court for failure to follow lawful judicial orders” Sen. Collins said.

Senator Collins said that Republicans care just as much as Democrats about sexual misconduct and sexual harassment and she’s joining a bipartisan group of senators who are trying to look at their procedures on Capitol Hill to assure that allegations of sexual misconduct involving members or staff are dealt with seriously.

President Donald Trump, who has faced past sexual misconduct accusations of his own from a variety of women that surfaced during the 2016 election, continues to support Moore and recently tweeted on December 9th,

“We can’t have a Pelosi/Schumer Liberal Democrat, Jones, in that important Alabama Senate seat. Need your vote to Make America great Again! Jones will always vote against what we must do for our Country.”

A big contingent of very enthusiastic Roy Moore fans at the rally last night. We can’t have a Pelosi/Schumer Liberal Democrat, Jones, in that important Alabama Senate seat. Need your vote to Make America Great Again! Jones will always vote against what we must do for our Country.

Although poll results show that Roy Moore’s popularity took a hit following the sexual misconduct accusations in November, the latest poll results from a variety of polls including the Trafalgar Group, Gravis, and WBRC-T..V./Strategy Research shows that he closely leads Democratic Senatorial challenger Doug Jones ahead of the December 12th Alabama Senatorial vote.

According to a Real Clear Politics average of major polls taken from 11/27 – 12/8 Moore leads by a point spread of 3.8 percent over Democratic challenger Doug Jones.

Written and Edited By:

John Schweitzer

@SchweitzFinance

@Schweitz31

schweitz31@gmail.com

]]>U.S. Economy Adds 228,000 Jobs In Novemberhttp://www.schweitzfinance.com/2017/12/08/u-s-economy-adds-228000-jobs-in-november/
Fri, 08 Dec 2017 13:59:33 +0000http://www.schweitzfinance.com/?p=30559The U.S. economy added 228,000 non-farm payroll jobs in November and the unemployment rate was unchanged at 4.1 percent, according to the latest November jobs report today from the U.S. Department of Labor. The highest [...]]]>

The U.S. economy added 228,000 non-farm payroll jobs in November and the unemployment rate was unchanged at 4.1 percent, according to the latest November jobs report today from the U.S. Department of Labor.

The highest level of job gains in November came in manufacturing (31,000) and healthcare (30,000) with the majority of those healthcare increases (25,000) coming in ambulatory health care services which includes offices of physicians and outpatient care centers.

Job growth in 2017 has averaged has averaged 174,000 per month in 2017, compared with an average monthly gain of 187,000 in 2016.

Job revisions for the October and September were 3,000 higher than reported previously.

September’s job increase was raised up from 18,000 to 38,000 while October’s was revised down from 261,000 to 244,000.

Following the revisions, job growth has averaged 170,000 over the past 3 months.

The labor force participation rate remained at 62.7 percent in November and the average workweek for all employees on private nonfarm payrolls increased by 0.1 hour to 34.5 hours in November.

Average hourly earnings for employees rose .05 cents to $26.55.

During the year, average hourly earnings rose by 64 cents, or 2.5 percent.

The solid job number 0f 228,000 for November will likely bring the U.S. Federal Reserve down the pathway of another rate hike next week during their December monetary policy meeting.

The market is pricing in another .25 percent basis pt. rate hike during next week’s Fed meeting with the U.S. federal funds.

According to PME’s FedWatch tool, the probability of an interest rate hike next week currently stands at 90.2 percent.

Written and Edited By:

John Schweitzer

@SchweitzFinance

@Schweitz31

schweitz31@gmail.com

]]>Trump Decision To Recognize Jerusalem As Israeli Capital And Relocate U.S. Embassy Gains Support From Netanyahu, Criticism From Britain And Othershttp://www.schweitzfinance.com/2017/12/07/trump-decision-to-acknowledge-jerusalem-as-israeli-capital-and-relocate-u-s-embassy-gains-support-from-netanyahu-but-faces-criticism-from-britain-and-others/
Thu, 07 Dec 2017 13:51:30 +0000http://www.schweitzfinance.com/?p=30524U.S. President Trump on Wednesday announced that the time has come for the U.S. to officially recognize Jerusalem as the capital of Israel and re-locate the U.S. embassy, despite facing opposition from Arabs, Britain, and [...]]]>

U.S. President Trump on Wednesday announced that the time has come for the U.S. to officially recognize Jerusalem as the capital of Israel and re-locate the U.S. embassy, despite facing opposition from Arabs, Britain, and France.

President Trump cited the decision by the U.S. Congress on October 23, 1995 to pass the Jerusalem Embassy Act which initiates and funds the relocation of the U.S. embassy from Tel Aviv to Jerusalem.

Previous U.S. presidents such as President Clinton, President Bush, and President Obama have refused to observe the decision by U.S. Congress to approve the Jerusalem Embassy Act in 1995 on grounds that the decision represents Congressional infringement on the executive branch’s constitutional authority over foreign policy and relied on waivers to avoid the move while citing national security interests.

Admitting that his announcement marks the beginning of a “new approach” to the conflict between Israel and Palestinians, President Trump noted that previous U.S. presidents have used waivers by refusing to recognize Jerusalem as Israel’s capital and move the U.S. embassy from its current home in Tel Aviv to Jerusalem.

“After more than two decades of waivers, we are no closer to a lasting peace agreement between Israel and the Palestinians. It would be folly to assume that repeating the exact same formula would now produce a different or better result” President Trump said.

President Trump said that he’s judged this course of action to be in the best interests of the U.S. and the pursuit of peace between Israel and Palestinians.

“Israel is a sovereign nation with the right like every other sovereign nation to determine its own capital. Acknowledging this as a fact is a necessary condition for achieving peace” said President Trump in a statement.

Hamas leader Ismail Haniyeh criticized the decision by U.S. President Trump, claiming that it has killed the peace process, Oslo accord, and settlement process.

He called for a new Palestinian intifada, or uprising against Israel.

U.K. Prime Minister Theresa May was critical of President Trump’s decision and said in a statement on Wednesday that it is unhelpful to help the prospects for peace.

“We disagree with he U.S. decision to move its embassy to Jerusalem and recognize Jerusalem as the Israeli capital before a final status agreement. We believe that it is unhelpful in terms of prospects for peace in the region. The British embassy to Israel is based in Tel Aviv and we have no plans to move it” Prime Minister May said in a statement on Wednesday.

May explained that the status of Jerusalem should be a shared capital between Israeli and Palestinian states and in line with relevant Security Council Resolutions, “we regard East Jerusalem as part of the Occupied Palestinian Territories.”

Israeli Prime Minister Benjamin Netanyahu said in a statement on Wednesday that we are grateful for President Trump’s “courageous and just decision” to recognize Jerusalem as the capital of Israel and to prepare for the opening of the U.S. embassy in the city.

Prime Minister Netanyahu explained that the decision “reflects the President’s commitment to an ancient but enduring truth, to fulfilling his promises and to advancing peace.”

PM Netanyahu said there is no peace that doesn’t include Jerusalem as the capital of Israel and he shares President Trump’s commitment to advancing peace between Israel and their neighbors, including the Palestinians.

Netanyahu pointed out there will be no change whatsoever to the status quo at holy sites and admitted the Jewish people and the Jewish state will be “forever grateful.”

The U.S. economy added 190,000 private sector jobs in November, according to private-sector payroll processor ADP which comes ahead of Friday’s closely watched non-farm payroll report for the same month.

Both employment reports will be watched closely by policymakers at the U.S. Federal Reserve that will meet next week in Washington D.C. and decide whether or not another rate hike is needed in 2017.

“The labor market continues to grow at a solid pace,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute in a released statement.

“Notably, manufacturing added the most jobs the industry has seen all year. As the labor market continues to tighten and wages increase it will become increasingly difficult for employers to attract and retain skilled talent” Yildirmaz added.

Mark Zandi, chief economist at Moody Analytics, spoke positively about the “red-hot” job market in a released statement but also cautioned about the mounting threat of the job market overheating next year if the pace continues.

“The job market is red hot, with broad-based job gains across industries and company sizes. The only soft spots are in industries being disrupted by technology, brick-and-mortar retailing being the best example. There is a mounting threat that the job market will overheat next year” Zandi said.

President Trump Expected To Recognize Jerusalem As Capital Of Israel

Despite facing opposition from several Arab countries and France, President Trump is expected today that the U.S. will recognize Jerusalem as the capital of Israel.

White House Press Secretary Sarah Sanders said yesterday in a press briefing that “a number of things have been looked at that have been weighed into the President’s decision.”

President Trump will also order the re-location of the U.S. embassy to Jerusalem from Tel Aviv.

Yesterday, President Trump made his decision to recognize Jerusalem as the capital known during a conversation with Prime Minister Benjamin Netanyahu of Israel, President Mahmoud of the Palestinian Authority, His Majesty King Abdullah II of Jordan, President Abdel Fattah Al Sisi of Egypt, and His Majesty King Salman Bin Abdulaziz of Saudi Arabia.

In a readout of President Trump’s calls yesterday with Middle East leaders, it was reported that the leaders discussed the President’s commitment to advancing the Israeli- Palestinian peace talks and the importance of supporting those talks.

Written and Edited By:

John Schweitzer

@SchweitzFinance

@Schweitz31

schweitz31@gmail.com

]]>Trump Avoids Question About When He Found Out Flynn Lied To FBI Before His Utah Trip Where He Downsizes Federal Monumentshttp://www.schweitzfinance.com/2017/12/05/trump-avoids-question-about-when-he-found-out-flynn-lied-to-fbi-before-utah-trip-where-he-downsizes-federal-monuments/
Tue, 05 Dec 2017 09:42:08 +0000http://www.schweitzfinance.com/?p=30482President Trump was questioned on the South Lawn by reporters on Monday about when he found out Michael Flynn had lied to the FBI and he responded by avoiding the question and claiming that Clinton [...]]]>

President Trump was questioned on the South Lawn by reporters on Monday about when he found out Michael Flynn had lied to the FBI and he responded by avoiding the question and claiming that Clinton had lied to the FBI and nothing happened and said that Michael Flynn lied and they destroyed his life.

President Trump tweeted on Saturday that he fired Michael Flynn after discovering that he had lied to the FBI, a new acknowledgment from the President showing that he knew about Flynn’s lie to the FBI in January.

I had to fire General Flynn because he lied to the Vice President and the FBI. He has pled guilty to those lies. It is a shame because his actions during the transition were lawful. There was nothing to hide!

A month later in February, President Trump met with then FBI Director James Comey in private and asked him to pledge his loyalty and to drop the federal investigation about Flynn’s contacts with Russians.

President Trump changed course on Sunday and tweeted “I never asked Comey to stop investigating Flynn. Just more Fake News covering another Comey lie!”

I never asked Comey to stop investigating Flynn. Just more Fake News covering another Comey lie!

After arriving in Utah on Monday and speaking before a crowd in Salt Lake City, President Trump decided to downsize two federal monuments, Bears Ears and Grand Staircase-Escalante, in the state by one million acres.

President Trump admitted that he’s come to Utah to take a very historic action to reverse federal overreach and restore the rights of this land to their citizens in a move that has angered environmentalists.

New Mexico Democratic Senator Tom Udall reacted with a tweet stating that he supports the legal fight against the attack on public lands and heritage.

In a released statement, Senator Udall said, “The President is lifting protections for thousands of Native American sites, putting them at risk, and opening them up for coal, oil and gas development.”

Environmental groups have filed lawsuits in response to Trump’s actions in Utah which represents the largest reduction of protected areas in U.S. history.

Roy Moore Gaining Ground In Latest Polls

Alabama Republican Senatorial candidate Roy Moore, who stands accused recently of having inappropriate sexual encounters with young teenage women when he was in his early 30’s, has taken a lead over Democratic Senatorial challenger Doug Jones in the Alabama Senate race which occurs on December 12th.

According to a CBS/YouGov poll taken from 11/28-12/1 Roy Moore has a + 6 point advantage over Jones.

In another Emerson poll taken from 11/30- 12/2, Roy Moore has a + 3 point lead over Jones.

President Trump tweeted on Monday, “Putting Pelosi/Schumer Liberal Puppet Jones into office in Alabama would hurt our great Republican Agenda of low on taxes, tough on crime, strong on military and borders….& so much more. Look at your 401-K’s since Election. Highest Stock Market EVER! Jobs are roaring back!”

Putting Pelosi/Schumer Liberal Puppet Jones into office in Alabama would hurt our great Republican Agenda of low on taxes, tough on crime, strong on military and borders…& so much more. Look at your 401-k’s since Election. Highest Stock Market EVER! Jobs are roaring back!

]]>U.S. Stocks Rise Following Senate Approval Of Tax Cutshttp://www.schweitzfinance.com/2017/12/04/u-s-stocks-rise-following-senate-approval-of-tax-cuts/
Mon, 04 Dec 2017 14:59:28 +0000http://www.schweitzfinance.com/?p=30471U.S. stocks are set for a higher open on Monday following the Senate’s approval of an amended version of the H.R. 1 Tax Cuts and Jobs Act over the week-end that includes the largest corporate [...]]]>

U.S. stocks are set for a higher open on Monday following the Senate’s approval of an amended version of the H.R. 1 Tax Cuts and Jobs Act over the week-end that includes the largest corporate tax cut in history and lowering the number of tax brackets for American individuals while increasing the standard deduction.

The Republican inspired Tax Cuts and Jobs Act is based on a Republican “trickle down economics” model that is estimated to increase U.S. GDP by 0.8 percent over the next 10 years, according to November dynamic score of the bill from the Joint Committee on Taxation (JCT) that works closely with the Congressional Budget Office (CBO) on tax policy issues.

The cost of the Tax Cuts and Jobs Act is over $ 1 trillion and includes a repeal of the individual mandate from the Affordable Care Act, requiring all Americans to purchase health insurance.

The Week Ahead

Investors will be paying close attention to U.S. jobs data this week that is due on Wednesday with an ADP private sector November jobs report and a Friday non-farm payroll report from the U.S. Labor Department for November.

Expectations remain high that the U.S. Federal Reserve will vote to increase the federal funds interest rate by .25 basis points to 1.25- 1.50 percent at the conclusion of their 2 day December monetary policy meeting that wraps up next week on December 13th.

The Fed’s December monetary policy meeting includes a press conference and update with their economic projections.

According to CME’s FedWatch tool, the probability of a .25 basis point rate hike with the federal funds currently stands at 90.2 percent.

Some of the other U.S. economic data this week includes Factory Orders (Oct) due on Monday, and PMI, ISM- non-manufacturing (Nov.) due on Tuesday.

Consumer sentiment (Dec.) is due on Friday along with Wholesale Trade (Oct.)

Written and Edited by:

John Schweitzer

@SchweitzFinance

schweitz31@gmail.com

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Sen. Feinstein Says We’re Beginning To See An Obstruction Of Justice Case Put Together With President Trumphttp://www.schweitzfinance.com/2017/12/03/sen-feinstein-says-were-beginning-to-see-an-obstruction-of-justice-case-put-together-with-president-trump/
Mon, 04 Dec 2017 03:28:06 +0000http://www.schweitzfinance.com/?p=30429Senator Dianne Feinstein (D-California), a ranking member on the Judiciary Committee, said on NBC’s Meet the Press on Sunday that we’re beginning to see an obstruction of justice case put together with President Trump which [...]]]>

Senator Dianne Feinstein (D-California), a ranking member on the Judiciary Committee, said on NBC’s Meet the Press on Sunday that we’re beginning to see an obstruction of justice case put together with President Trump which follows the President’s firing of former FBI Director James Comey in May, just three months after he demanded his loyalty and the ending of the FBI investigation of his National Security Adviser Michael Flynn concerning his past Russian contacts.

“I think we see this in the indictments, the four indictments and pleas that have just taken place, and some of the comments that are being made. I see it in the hyper-frenetic attitude of the White House: the comments every day, the continual tweets” Sen. Feinstein said.

“And I see it, most importantly, in what happened with the firing of Director Comey and it is my belief that that is directly because he did not agree to lift the cloud of the Russia investigation. That’s obstruction of justice” Sen. Feinstein added.

Former National Security Adviser Michael Flynn admitted to lying to FBI agents on Friday in connection with his past contacts with Russian Ambassador Sergey Kislyak over Russian sanctions and a UN national security resolution over Israeli settlements.

Sen. Feinstein said that she believes National Security Adviser Michael Flynn was “directed” to stop the national security resolution going through the United Nations regarding Israel and also sanctions former U.S. President Obama had imposed on Russia related to meddling in the 2016 presidential election.

Sen. Feinstein admitted that the investigation which really has clout is Special Counsel Robert Mueller’s case.

“He’s got all the tools he needs, investigative and legal, to do what he needs to do. I think what we’re seeing is some of the fallout from that” Sen. Feinstein said.

President Trump tweeted on Saturday that he had to fire former National Security Adviser Michael Flynn because he lied to the Vice President and the FBI.

I had to fire General Flynn because he lied to the Vice President and the FBI. He has pled guilty to those lies. It is a shame because his actions during the transition were lawful. There was nothing to hide!

Earlier, President Trump admitted that he fired Michael Flynn because he had lied to the Vice President.

But with the new Trump admission on Saturday via Twitter that he fired Flynn in January because he also lied to the FBI suggests that the President was fully aware that Flynn was in legal trouble when he met with former FBI Director Comey in February and requested him to end the FBI investigation, an action that some legal experts view as obstruction of justice and shows interference of a federal investigation concerning a senior cabinet member in the White House.

Although former FBI Director Comey testified in early June that President Trump asked him to end the FBI investigation of Michael Flynn, President Trump disputed that claim in a Sunday tweet in which he claimed that he never asked Comey to stop investigating Flynn and accused Comey of lying.